Southwest Georgia's unemployment rate falls to 8.8% - WALB.com, Albany News, Weather, Sports

Southwest GA's unemployment rate falls to 8.8%

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ATLANTA, GA (WALB) -

ATLANTA – The Georgia Department of Labor announced today that the Southwest Georgia region's unemployment rate declined to 8.8 percent in February, down five-tenths of a percentage point from 9.3 percent in January. The rate was 9.5 percent in February a year ago.

The rate declined because there were fewer new layoffs, which were represented by initial claims for unemployment insurance benefits.

The number of first-time claims for unemployment insurance benefits fell by 1,289 from 2,694 in January to 1,405 in February. The decreases came mostly in construction, manufacturing, trade, transportation, and warehousing, administrative and support services, health care and social assistance, and accommodations and food services.

And, the number of initial claims was down over-the-year by 343 from 1,748 in February 2012. Most of the over-the-year decline came in the same industries as the monthly decline.  

metro Albany's unemployment rate declined to 9.2 percent in February, down five-tenths of a percentage point from 9.7 percent in January. The rate was 9.9 percent in February a year ago. 

The rate declined because of three factors -- the number of jobs increased by 100, there were 506 fewer new layoffs, and the labor force, which is the number of people employed plus those unemployed but actively looking for a job, decreased by 930.  

The number of jobs in metro Albany increased to 60,800 from 60,700 in January. Most of the job growth came in wholesale trade, transportation, and warehousing, along with state government. However, jobs were unchanged over the year at 60,800. 

The number of first-time claims for unemployment insurance benefits, resulting from layoffs during the month, decreased to 791 in February, down from 1,297 in January. The decreases came mostly in construction, manufacturing, wholesale and retail trade, and administrative and support services.  And, the number of initial claims was down over-the-year from 796 in February 2012. Most of the over-the-year decline came in the same industries as the monthly decline.

Metro Athens had the lowest area jobless rate at 6.1 percent, while the Heart of Georgia-Altamaha region had the highest at 11.2 percent.

Meanwhile, Georgia's seasonally adjusted unemployment rate for February was 8.6 percent, down from 8.7 percent in January. The rate was 9.2 percent in February a year ago.

 

 

 

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